POL (Polygon) ($POL) Crypto Forecast: Down 6.5% Today

What is POL (Polygon)?

POL, formerly known as MATIC, is a cryptocurrency token that operates on the Polygon network. It aims to provide scalability solutions for Ethereum-based decentralized applications.

Why is POL (Polygon) going down?

POL crypto is down 6.5% on Oct 2, 2024 12:35

• The bearish movement of POL today can be attributed to a frustrated whale selling all their holdings for Solana and another token, signaling a lack of confidence in POL's future prospects.
• Despite the recent price increase of over 3%, the overall sentiment seems to be negative as Polygon has ended September on a low note, raising concerns about holder profitability.
• The announcement of major updates by CryptoGames, including support for Shiba Inu, Solana and Tether lotteries, and a migration from MATIC to POL, did not seem to have a positive impact on POL's price.
• While there were 5 reasons to be bullish on Polygon's price recently, the market movement today indicates that these factors may not have been strong enough to outweigh the selling pressure from frustrated investors.

POL Price Chart

POL News

CryptoGames Announces Major Updates: Shiba Inu Support, Solana and Tether Lotteries, and MATIC to POL Migration

CryptoGames Announces Major Updates: Shiba Inu Support, Solana and Tether Lotteries, and MATIC to POL Migration

https://ambcrypto.com/cryptogames-announces-major-updates-shiba-inu-support-solana-and-tether-lotteries-and-matic-to-pol-migration/

Polygon ends September on low note – What about holder profitability?

Polygon ends September on low note – What about holder profitability?

https://ambcrypto.com/polygon-ends-september-on-low-note-what-about-holder-profitability/

With Polygon Plummeting 86% from ATH, Frustrated Whale Sells All for Solana and Another Token Under $0.08

With Polygon Plummeting 86% from ATH, Frustrated Whale Sells All for Solana and Another Token Under $0.08

https://coingape.com/sponsored/with-polygon-plummeting-86-from-ath-frustrated-whale-sells-all-for-solana-and-another-token-under-0-08/

5 Reasons to be Bullish on Polygon (MATIC) Price

5 Reasons to be Bullish on Polygon (MATIC) Price

https://coingape.com/markets/really-good-reasons-to-be-bullish-on-matic-polygon-price/

Cryptocurrency POL (ex-MATIC)'s Price Increased More Than 3% Within 24 hours

Cryptocurrency POL (ex-MATIC)'s Price Increased More Than 3% Within 24 hours

https://www.benzinga.com/insights/cryptocurrency/24/09/41054857/cryptocurrency-pol-ex-matic-s-price-increased-more-than-3-within-24-hours?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

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POL (Polygon) Price History

30.08.2024 - POL Crypto was down 5.0%

• The bearish movement of POL today can be attributed to a frustrated whale selling all their holdings in Polygon due to its significant decline from its all-time high (ATH) and reallocating their funds into Solana and another token under $0.08.
• Despite the bearish movement, there were recent positive indicators for Polygon, such as a 5% price increase following a major upgrade and a more than 3% price increase within 24 hours. However, these gains were overshadowed by the whale's actions and the overall market sentiment.
• The news about Polygon's 1019% network growth could have initially driven optimism and bullish sentiment, but it seems that the recent sell-off by a large holder had a more immediate impact on the token's price movement.
• Investors considering Polygon should weigh the potential for price increases against the risk of significant sell-offs by large holders, as demonstrated by today's bearish movement.

16.08.2024 - POL Crypto was down 5.3%

• Listing on Binance and completing the upgrade of Polygon's POL token typically have a positive impact on its price, as evidenced by the 15% jump post-upgrade.
• Despite being the best performer in the top 100 post-upgrade, Polygon's POL token experienced a strong bearish movement today, indicating a possible sell-off after the recent price surge.
• The significant uptick of +320% in a particular aspect of POL might have initially driven the price higher but could have led to profit-taking by investors, contributing to the bearish movement.
• The overall bullish sentiment in the cryptocurrency market, especially with Bitcoin hitting $60K, might have influenced traders to take profits in altcoins like POL, contributing to the bearish movement despite recent positive developments.

14.08.2024 - POL Crypto was up 9.5%

• Strong bullish movement of over 14% in the last 24 hours for POL, aligning with the overall trend in the cryptocurrency market.
• Transition from MATIC to POL on Binance completed, likely boosting investor confidence and interest in the token, resulting in a price surge.
• Positive sentiment in the crypto market, exemplified by Bitcoin surpassing $60K and the notable performance of major tokens, influencing the bullish movement of POL.
• Increased market capitalization and trading volume across the crypto markets, with a $70 billion daily addition, creating a conducive environment for the appreciation of POL's price.

27.08.2024 - POL Crypto was up 5.5%

• The price of POL surged by more than 3% within 24 hours, driven by positive market sentiment and increased demand for the token.
• The major upgrade on the Polygon network likely contributed to the 5% price increase of POL, showcasing the network's commitment to enhancing its technology and attracting more users.
• The significant network growth of Polygon by 1019% is a bullish indicator for POL, as it suggests a growing user base and ecosystem that could potentially drive the token's value higher.
• The anticipation of a 40% price rally as the Total Value Locked (TVL) on the Sui platform nears $1 billion could further boost investor confidence in POL, leading to continued bullish momentum in the market.

14.08.2024 - POL Crypto was down 5.2%

• Despite positive developments regarding the completion of Polygon's token upgrade and its significant price jump, POL experienced a bearish movement.
• The overall bullish sentiment in the cryptocurrency market, with Bitcoin reaching $60K and Ethereum performing well, might have caused investors to shift their focus to these top assets, resulting in a sell-off in POL.
• The discrepancy between the positive Polygon news and POL's bearish movement could suggest profit-taking by traders who may have utilized the recent price surge.
• While POL's performance today may appear contradictory given the positive developments, it emphasizes the volatility and unpredictability of the cryptocurrency market, where external factors can impact asset prices beyond fundamental changes.

14.08.2024 - POL Crypto was up 11.6%

• The transition of MATIC to POL has fueled a surge in demand for the token, leading to a significant price increase of over 14% within 24 hours.
• The listing of POL on a prominent exchange has attracted more traders and investors to the token, resulting in a spike of 15% in its price and creating a sense of optimism in the market.
• The migration of MATIC to POL has raised speculation about whether the coin's price will reclaim its position within the top 20 cryptocurrencies, driving further interest and investment in the token.
• Overall, the positive market sentiment surrounding Polygon's transition to POL, coupled with increased visibility on exchanges, has contributed to the strong bullish movement of the token today.

14.08.2024 - POL Crypto was down 5.2%

• POL had a strong bearish movement despite positive news surrounding its transition from MATIC to POL on a prominent exchange, and a significant price increase of more than 14% within 24 hours.
• The overall bullish sentiment in the cryptocurrency market, with Bitcoin hitting $60K and adding $70 billion daily as it soared to a 16-day peak, could have overshadowed the specific bearish movement of POL.
• Investors might be focusing more on grabbing BTC at what they perceive as cheap prices in the coming weeks, diverting attention from other cryptocurrencies like POL.
• The significant uptick of +320% on a particular front for POL, while not specified in recent discussions, could be a positive indicator for the token's future despite the current bearish trend.

02.09.2024 - POL Crypto was down 5.3%

• POL experienced a strong bearish movement today, possibly due to profit-taking after a period of price increase.
• The frustrated whale selling all POL for Solana and another token under $0.08 could have added selling pressure to the market.
• Despite the bearish movement, there are still bullish sentiments surrounding POL, as indicated by the 5 reasons to be bullish on its price.
• The major upgrade on the Polygon network could have initially boosted POL's price by 5%, but the overall market sentiment turned bearish, leading to a decline.

02.09.2024 - POL Crypto was down 6.5%

• The bearish movement of POL today can be attributed to a frustrated whale selling all their holdings for Solana and another token, signaling a lack of confidence in POL's future prospects.
• Despite the recent price increase of over 3%, the overall sentiment seems to be negative as Polygon has ended September on a low note, raising concerns about holder profitability.
• The announcement of major updates by CryptoGames, including support for Shiba Inu, Solana and Tether lotteries, and a migration from MATIC to POL, did not seem to have a positive impact on POL's price.
• While there were 5 reasons to be bullish on Polygon's price recently, the market movement today indicates that these factors may not have been strong enough to outweigh the selling pressure from frustrated investors.

19.08.2024 - POL Crypto was up 6.3%

• Polygon whales accumulating and the anticipation of a breakout could have fueled positive sentiment and buying pressure, leading to the bullish movement.
• The rebranding from MATIC to POL might have sparked renewed interest and confidence in the project, contributing to the upward price momentum.
• The underperformance of POL earlier in the year may have created a favorable buying opportunity for investors, resulting in today's bullish movement.
• The movement of MATIC and other cryptocurrencies to cold wallets by whales could indicate a potential rally ahead, further boosting market optimism and driving up the price of POL.

19.08.2024 - POL Crypto was up 6.2%

• The bullish movement of POL today could be attributed to the anticipation of a breakout related to Polygon whales accumulating the token.
• The news about 190 Billion DOGS Coins facing a decisive moment after listings on major exchanges like Binance and Coinbase might have created a positive sentiment in the overall cryptocurrency market, benefiting tokens like POL.
• The launch of the Berachain Token, speculated to be the next big thing in crypto, could have brought attention to the sector, leading to increased interest and investment in cryptocurrencies like POL.
• Despite the recent decrease in POL's value, the market sentiment seems to have shifted today, possibly due to investors seeing it as hitting a bottom after a period of underperformance.

19.08.2024 - POL Crypto was up 5.3%

• Despite the recent underperformance of POL (ex-MATIC), the token experienced a strong bullish movement today.
• The news of whales moving MATIC and other cryptocurrencies to cold wallets might have sparked speculation of a potential rally, leading to increased buying pressure on POL.
• The rebranding of MATIC to POL and the anticipation surrounding the Berachain Token launch could have generated renewed interest and optimism in the token, contributing to its bullish movement.
• The market sentiment seems to be shifting positively for POL, with investors potentially eyeing a bounce back in its price as whale supply dynamics change and the token aims to recover from its previous underperformance.